Tuesday, February 4, 2014

CBO says Deficit down to $510 Billion this year.

Despite Republican efforts to prevent Americans from seeing the real effects of the Democratic Party's policies on the economy, Obama has been able to cut the deficit in half. 
The CBO reported that the federal budget deficit is rapidly shrinking and is projected to narrow to $514 billion this year, providing fresh evidence that the problem that has been Washington’s obsession for the past several years has become far less urgent.

Tax increases, spending cuts and faster economic growth have helped close the deficit.


Anonymous said...

A good portion of the deficit decrease was due to the sequester spending cuts. Were you in favor of those cuts?

Democurmudgeon said...

No, I didn't support the sequester. You may have forgotten, but there were other options, targeted cuts that would have made more of a difference and brought in more revenue. You seem to think "cutting" is the answer. Didn't have to happen.

Sequester cuts negated by government shutdown. Thanks.

Anonymous said...

I agree on targeted cuts. Most of Medicare/Medicaid and about 50% or more of the Defense budget should have been cut. End completely the Department of Education and we would probably be getting close to a balanced budget. There are probably hundreds if not thousands of other departments that could be heavily cut if not outright eliminated on top of these. What I would love to see would be a law that requires prioritized budgeting. List the items in the budget in order that you want funded. When the money runs out, anything below that line is not funded. Then make it more difficult but not impossible for Congress to borrow money - say a 60% vote required and then in emergency cases extra money could be spent but it would not be an every year occurence (hopefully).

Jake formerly of the LP said...

1985 called and wants its take back, kiddo.

Most of us grow out of economic libertarianism when we're 19 or so. I suggest you do the same.

Anonymous said...

Yeah we can see the product of your "growth" The only thing that the Federal government has successfully grown is the National Debt.